Three-time MLB MVP Alex Rodriguez and e-commerce mogul Marc Lore have signed a letter of intent with Glen Taylor and are negotiating to succeed him as owners of the Minnesota Timberwolves, sources told The Athletic.
Rodriguez and Lore signed the documents on Saturday and now have a 30-day exclusive negotiating window to try to finalize a deal with Taylor. If completed, it would infuse the Timberwolves with some mega-watt star power. It would also give Taylor the partners he has long sought to carry the franchise into the future as he prepares to step aside from the team he has owned for 27 years. The succession plan being discussed, sources said, would call for Rodriguez and Lore — two close friends who are 50-50 partners in the arrangement— to join Taylor’s ownership group as limited partners for two and a half years, at which time Taylor would then step aside and hand the reins to the new majority partners.
